A financial organization which pays interest on investments by its members and lends capital for the purchase or improvement of houses.
More example sentences
- Child Trust Fund accounts are available from banks, building societies and other financial organisations.
- High-rise flats or tower blocks are considered by many banks and building societies unsuitable for mortgage lending.
- Later, other lenders jumped on board the lucrative credit bandwagon, including building societies and smaller banks.
Building societies originally developed as non-profit-making cooperative societies from friendly societies. Since 1986 changes in legislation have allowed them to offer banking and other facilities, and some have become public limited companies